HashDAO Finance Launches on Arbitrum

HashDAO Finance has launched on Arbitrum with the trading pairs BTC/USD, ETH/USD, ARB/USD, and GMX/USD with up to 50x leverage.

The protocol uses self-executing smart contracts to offer continuous access to programmatic pools of liquidity, which can be used to hedge token positions by a wide range of digital asset owners with little or no impact on spot markets.

For traders looking to protect their gains, it offers capital-efficient hedging with near-zero market impact. Moreover, it creates a yield-bearing instrument for crypto investors to earn passive income.

“By using just 1/50th of the collateral necessary to take comparable positions on traditional AMMs, we deliver near frictionless access to WBTC, WETH, ARB, stablecoins, and other high liquidity tokens,” HashDAO stated.

HashDAO will issue two types of tokens: HASH, the utility token, and veHASH. By staking HASH, one can obtain veHASH, which serves as a yield booster. 

Tokens allocated to the team will be locked for three years. There will be a linear vesting schedule for these tokens, which cannot be unstaked until the schedule is met. 

Also, the HashDAO team is exploring the possibility of selling HASH to high-profile strategic partners. A strategic investor allocation has been set aside for external contributors. Funds from the sale will go to the HASH DAO Treasury, as reported.

The HashDAO also plans to airdrop tokens to its community, with more details to be released soon.

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The Growing Arbitrum Ecosystem

Arbitrum's DeFi ecosystem is growing rapidly, with new protocols bringing innovative solutions to the network. Moreover, Arbitrum launched its token $ARB with an airdrop to its loyal community members on March 23. 

Later, it faced backlash when Arbitrum Foundation began selling $ARB tokens for stablecoins ahead of community approval.

In response to negative feedback on its original governance proposal, the Arbitrum Foundation has unveiled two new proposals incorporating significant changes.

As part of the new proposals, the Foundation will be subject to significant spending restrictions, including smart contract lockups, and will attempt to reduce the proposal threshold from 5,000,000 tokens to 1,000,000.

Arbitrum ($ARB) has a market cap of $1.481 billion and is trading at $1.16, down 2.15% in 24 hours. 

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What is HashDAO Finance:

HashDAO is a decentralized and non-custodial perpetual DEX on Arbitrum focused on delivering highly effective risk management and a first-of-its-kind liquidity solution for LPs through the use of original code written from the ground up.

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Learn more about HashDAO Finance:

Website | Docs | Twitter | Discord

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What is Arbitrum:

Arbitrum is an Ethereum layer-2 network that allows developers to build and deploy highly scalable smart contracts for a low cost. Arbitrum chain will enable developers to use Web3 apps, deploy smart contracts, etc., but transactions will be cheaper and faster. The flagship product for the team, Arbitrum Rollup, is an Optimistic roll-up protocol that inherits Ethereum-level security.

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Learn more about Arbitrum:

Website | Docs | Twitter | Blog